SUMMARY ANNUAL REPORT FOR
NORTHWESTERN UNIVERSITY VOLUNTARY SAVINGS PLAN
This is a summary of the annual report for the Northwestern University Voluntary Savings Plan (Employer Identification Number
36-2167817, Plan Number 003) for the plan year 01/01/2021 through 12/31/2021. The annual report has been filed with the Employee Benefits
Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
Benefits under the plan are provided by insurance contracts and a trust fund. Plan expenses were $48,991,509. These expenses included
$121,550 in administrative expenses and $48,858,297 in benefits paid to participants and beneficiaries and insurance carriers for the provision of
benefits, and $11,662 in certain deemed and/or corrective distributions. A total of 21,684 persons were participants in or beneficiaries of the plan
at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.
The value of plan assets, after subtracting liabilities of the plan, was $1,077,199,750 as of the end of the plan year, compared to
$952,181,637 as of the beginning of the plan year. During the plan year the plan experienced a change in its net assets of $125,018,113. This
change includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at
the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total
income of $174,002,342, including employee contributions of $38,772,565, other contributions/other income of $13,814,638, and earnings from
investments of $121,415,139.
Your Rights to Additional Information
You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that
report:
1. An accountant's report.
2. Financial information and information on payments to service providers.
3. Assets held for investment.
4. Insurance information, including sales commissions paid by insurance carriers.
5. Information regarding any common or collective trusts, pooled separate accounts, master trusts or 103-12 investment entities
in which the plan participates.
To obtain a copy of the full annual report, or any part thereof, write or call the plan administrator, Northwestern University, at 720
University Place, Evanston, IL 60208 and phone number, 847-491-3741.
You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the
plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the
full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report.
You also have the legally protected right to examine the annual report at the main office of the plan: Northwestern University, at 720
University Place, Evanston, IL 60208, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of
Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee
Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.
Paperwork Reduction Act Statement
According to the Paperwork Reduction Act of 1995 (Pub. L. 104-13) (PRA), no persons are required to respond to a collection of
information unless such collection displays a valid Office of Management and Budget (OMB) control number. The Department notes that a Federal
agency cannot conduct or sponsor a collection of information unless it is approved by OMB under the PRA, and displays a currently valid OMB
control number, and the public is not required to respond to a collection of information unless it displays a currently valid OMB control number.
See 44 U.S.C. 3507. Also, notwithstanding any other provisions of law, no person shall be subject to penalty for failing to comply with a collection of
information if the collection of information does not display a currently valid OMB control number. See 44 U.S.C. 3512.
The public reporting burden for this collection of information is estimated to average less than one minute per notice (approximately 3
hours and 11 minutes per plan). Interested parties are encouraged to send comments regarding the burden estimate or any other aspect of this
collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of the Chief Information Officer,
Attention: Departmental Clearance Officer, 200 Constitution Avenue, N.W., Room N-1301, Washington, DC 20210 or email
DOL_PRA_PUBLIC@dol.gov and reference the OMB Control Number 1210-0040.
OMB Control Number 1210-0040 (expires 07/31/2023)